]]>KELOWNA, BRITISH COLUMBIA – May 23, 2019 – Liht Cannabis Corp. (CSE: LIHT) (OTCQX:LIHTF) (“Liht” or the “Company“), a licensed cannabis cultivator and producer, is pleased to announce that it has executed a letter of intent to reach an agreement in principle (the “Agreement“), dated April 17, 2019, whereby the Company, or its wholly-owned subsidiary, will seek to acquire all or substantially all of the equity interests of the ACC Group of Companies (“ACC“), a Nevada-based group of companies licensed for cannabis cultivation and well-known for its award-winning cannabis cultivars. Liht management anticipates the execution of a definitive agreement (the “Definitive Agreement“) to acquire ACC will take place on or prior to June 15, 2019, with the closing of the transaction (the “Closing“) anticipated to follow shortly thereafter upon the satisfaction of such terms and conditions precedent to the Closing, which are customary for transactions of this nature. Following the completion of the transaction contemplated in the Agreement (the “Proposed Transaction“), the Company will integrate ACC while rebranding itself as “Citation Growth Corp.“, reaffirming its status as a true multi-state operator.

Rahim Mohamed, CEO of Liht commented, “We believe the accretive benefits derived from the acquisition of ACC, which include the team’s advanced cannabis seed genetics program, will provide Liht with an experienced and operationally diverse industry partner with which to progress our proprietary cultivation program – furthering Liht’s stated mission to continually set new industry standards for quality, cost, and margin, in every jurisdiction in which we operate.” Mr. Mohamed continued, “Liht anticipates the superior quality, capacity, and reputation afforded by the acquisition of ACC will accelerate our Nevada program and position Liht to become the pre-eminent cannabis cultivator and producer in the state.”

Upon completion of the Proposed Transaction, the Company anticipates that it will have completed a strategic alignment in its Nevada operations to become a dominant cultivator and distributor of premium cannabis products to Nevada’s significant and vibrant medical and recreational markets. Liht believes the unparalleled agronomic ability and cutting-edge cannabis marketing infrastructure offered by the acquisition of ACC will bring an additional wealth of comprehensive cannabis experience and synergies to a Liht team that is, itself, already steeped in expert organic growing methodologies.

Following the Closing of the Proposed Transaction, Liht anticipates that the acquisition of ACC will:

create one of the largest license holders in the State of Nevada, with an estimated, consolidated licensed footprint for the combined entity of up to 566,000 ft2, consisting of up to 550,000 ft2in cannabis cultivation space and up to 16,000 ft2 in processing space for cannabis concentrates and edibles, assuming the successful completion of all proposed site phases, with an estimated capital expenditure requirement for the combined entity of approximately US$90.0MM;

significantly enhance Liht’s Nevada operations by combining the Company’s comprehensive experience in organic cultivation techniques with ACC’s award-winning seed genetics program, fostering a new, premium cannabis powerhouse in the State of Nevada, and any such other jurisdictions it may enter, as regulations and legislation may permit;

Opportunity to build upon ACC’s successful CY2018 unaudited financial performance, where it achieved revenue of US$7.9MM, gross margin of 57%, adjusted EBITDA of US$1.0MM, and adjusted EBITDA margin of 8%;

provide the Company with an ACC management-estimated, annualized approximately US$115MM in additional forward-looking revenue, at an ACC management- estimated, annualized EBITDA margin of approximately 0%, assuming the completion of all proposed phases and maximum operational efficiencies being realized, with an estimated capital expenditure requirement of approximately US$50.0MM; and

enhance the Company’s current suite of portfolio products with the addition of three (3) new, established brands within the State of Nevada, which include BluntBox, Garden of Weeden, and Superior, complementing Liht’s established FIORE cannabis flower

Howard Misle, who will be joining Liht as the Company’s CEO upon the Closing of the Proposed Transaction, remarked, “ACC has been pleased to observe the significant traction and rapid growth achieved by the Liht team since its entrance into the Nevada cannabis market, while also noting Liht’s reputation is quickly becoming synonymous with success, innovation, and high-quality production.” Mr. Misle added, “In electing to partner with Liht and its experienced management team, ACC believes it will gain the expanded platform and capital markets support network necessary to leverage our collective success, allowing for an eye toward future growth outside of the State of Nevada.” Following the appointment of Howard Misle as CEO, Rahim Mohamed will serve as President of the Company.

Terms of the Proposed Transaction

Pursuant to the terms of the Agreement, Liht shall, prior to the Closing, consolidate its common shares on a four (4) to one (1) basis (the “Post-Consolidation Shares“) and complete a change in name to “Citation Growth Corp.” and request assignment of a new trading symbol as may be mutually agreed upon between Liht and ACC and as approved by the Canadian Securities Exchange (“CSE“).

Upon the Closing, it is proposed that the Company will issue an aggregate 35,000,000 Post-Consolidation Shares (the “Consideration Shares“) to the former securityholders of the parent ACC entity, which amount shall be inclusive of approximately 11,500,000 in Post-Consolidation Shares issuable upon the conversion of the ACC Amended Notes (as defined below).

The parent ACC entity currently has approximately US$15,000,000 in convertible notes (the “Notes“) outstanding. As a condition of the Proposed Transaction, the holders of the Notes will have to agree to restructure the Notes such that all principal and interest outstanding at the time of Closing will convert into units comprised of one (1) Consideration Share and one (1) Post-Consolidation Share purchase warrant (the “Amended Warrants“), with each full Amended Warrant exercisable at C$2.50 per Post-Consolidation Share for a period of twenty-four (24) months following the Closing (the “ACC Amended Notes“). The Amended Warrants will contain an acceleration provision such that in the event the volume weighted average trading price of the Post-Consolidation Shares on the CSE is greater than C$3.50 for a period of ten (10) consecutive trading days, the Company may, upon providing notice to the holders of the Amended

Warrants, accelerate the expiry of the Amended Warrants to a period that is thirty (30) days from the date such notice is given.

All Consideration Shares (including Post-Consolidation Shares issuable upon the exercise of the Amended Warrants) issued to management of ACC pursuant to the Proposed Transaction will be subject to three (3) year escrow provisions (“Escrow“) substantially similar of those that are required for an emerging issuer under National Policy 46-201 Escrow for Initial Public Offerings. All other Consideration Shares, including any Consideration Shares issued in exchange for outstanding convertible securities in the parent ACC entity, shall be subject to resale restrictions which will not allow for any resale or transfer until the date that is four (4) months and one (1) day following completion of the Proposed Transaction.

Further, subject to the policies of the CSE and applicable securities legislation, the Company and ACC will negotiate in good faith to implement a management incentive plan allowing for the issuance of up to US$10,000,000 in Post-Consolidation Shares, based upon the achievement of certain performance milestones for each its Canadian and United States (“US“) operations, to be defined in further detail in the Definitive Agreement.

Additional details regarding the Proposed Transaction will be provided in a comprehensive press release if and when the parties enter into the Definitive Agreement. The Definitive Agreement will incorporate the principal terms of the Proposed Transaction described herein, as same may be modified by agreement between the Company and ACC, and in addition, such other terms and provisions of a more detailed structure and nature as the parties may agree upon after receiving further tax, legal, securities, regulatory, and financial advice from their respective advisors. The Proposed Transaction is subject to customary conditions for a transaction of this nature, which includes all necessary securityholder and corporate approvals, third-party consents, permits, including those of governmental authorities, and the approval of the CSE, if required. The Proposed Transaction remains subject to the negotiation and execution of the Definitive Agreement and the satisfactory completion of due diligence.

Concurrent Equity and Debt Financing

Concurrent with the Closing of the Proposed Transaction, the Company has agreed to undertake an equity financing of up to US$10MM, along with a potential debt financing of up to US$17MM secured against the Company’s North Las Vegas assets. Further, the Company and ACC may elect to jointly pursue an additional unsecured non-dilutive debt financing of up to US$7MM, for further development of ACC’s Pahrump, Nevada licensed assets.

About Liht Cannabis Corp.

Liht Cannabis Corp. is a publicly traded company that has been investing in the medical and recreational cannabis space since 2014. Liht has rapidly expanded its operating portfolio to include cultivation, production, and dispensary locations in key North American state-legal jurisdictions, such as Washington State, Nevada, and California, and is seeking expansion opportunities worldwide.

About the ACC Group of Companies

ACC is a group of privately held companies that have held indoor cannabis cultivation licensing in the State of Nevada since 2014. Primarily located in Las Vegas, Nevada, ACC prides itself on its expansive collection of premium cannabis cultivars and its innovative seed genetics program.

For Further Information:

Stock Exchanges:

Liht trades in Canada, ticker symbol LIHT on the CSE, and in the US, ticker symbol LIHTF on the OTCQX. The Company also trades on other recognized platforms in Europe including Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

Marijuana Industry Involvement in the United States:

Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state; however, marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that federal enforcement actions could adversely affect their investments and that Liht’s ability to access private and public capital required in order to support continuing operations and its ability to operate in the US.

Unlike in Canada which has federal legislation uniformly governing the cultivation, distribution, sale and possession of cannabis under the Cannabis Act (federal), readers are cautioned that in the US, cannabis is largely regulated at the state level. To the knowledge of the Company, there are to date a total of 33 states, plus the District of Columbia, that have legalized cannabis in some form. Notwithstanding the permissive regulatory environment of medical cannabis at the state level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the US and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under US federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under the US federal law, nor will it provide a defense to any federal proceeding, which may be brought against the Company. Any such proceedings brought against the Company may materially adversely affect its operations and financial performance in the US market.

To the best of Liht’s knowledge, Liht’s business is conducted in a manner consistent with state law and is in compliance with applicable state licensing requirements in the US. Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.

Currently, listings of Canadian companies on the CSE will remain in good standing as long as they provide the disclosure that is required by the applicable Canadian securities regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.

Forward-Looking Statements:

This news release contains forward-looking statements, including Future Oriented Financial Information (“FOFI“) that relates to our current expectations and views of future events. Certain information contained herein and certain oral statements made are forward-looking and relate to the Company’s business strategy, any estimate of potential earnings, revenues, costs, and EBITDA, the completion of any transaction, including with ACC and the securityholders thereof, obtaining licenses and permits, completing the build- out of facilities, expectations in connection with the production and expansion plans at our facilities and capacity thereof, expectations regarding the timing of construction, development, and production of our expansion projects for both existing facility expansion and new facilities, the performance of our business and operations, the potential size of the cannabis market, events, courses of action, the proposed transaction with ACC, regulatory approvals and other matters. Statements which are not purely historical are forward- looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Forward-looking statements may also include, among other things, statements about the Company’s: expectations regarding expenses, sales and operations; future customer concentration; anticipated cash needs and estimates regarding capital requirements and the need for additional financing; total processing capacity; the ability to anticipate the future needs of customers; plans for future products and enhancements of existing products; future growth strategy and growth rate; future intellectual property; and anticipated trends and challenges in the markets in which the Company may operate.

The FOFI has been prepared by Company management to provide an outlook of Company activities and results and may not be appropriate for other purposes. Company management believes that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments. Readers of this news release are cautioned that the Company’s actual future results may be materially different from what the Company expects.

All information in this news release concerning ACC has been provided for inclusion herein by ACC. Although the Company has no knowledge that would indicate that any information contained herein concerning ACC is untrue or incomplete, the Company assumes no responsibility for the accuracy or completeness of any such information.

Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including: the demand for our products; anticipated costs and ability to achieve goals; the Company’s ability to complete any contemplated transactions; historical prices of cannabis; and that there will be no regulation or law that will prevent the Company or ACC from operating its businesses; the state of the economy in general and capital markets in particular; present and future business strategies; the environment in which the Company will operate in the future; the estimated size of the cannabis market; and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, the reader should not place undue reliance on these forward-looking statements.

The securities of the Company are considered highly speculative due to the nature of the Company and ACC’s businesses.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: execution of the Definitive Agreement; completion of the Proposed Transaction; the Company realizing the anticipated benefits of the Proposed Transaction; business, economic and capital market conditions; the ability to manage the Company’s operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to remain competitive; regulatory uncertainties; market conditions and the demand and pricing for our products; exchange rate fluctuations; the risk of difficulties in the integration of the Company and ACC; security threats; the Company’s relationships with its customers, distributors and business partners; the Company’s ability to attract, retain and motivate qualified personnel; industry competition; the impact of technology changes on the Company’s products and industry; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of litigation that could materially and adversely affect our business; the Company’s ability to manage its working capital; and the Company’s dependence on key personnel. The Company is not a positive cash flow company and it may not actually achieve its plans, projections, or expectations (the Company and ACC have a history of losses).

Important factors that could cause actual results to differ materially from the Company’s expectations include, consumer sentiment towards the Company’s products and cannabis generally; risks related to the Company and ACC’s ability to maintain its licenses issued by governments in good standing; uncertainty with respect to the Company and ACC’s ability to grow, store and sell cannabis; risks related to the costs required to meet the obligations related to regulatory compliance; risks related to the extensive control and regulations inherent in the industry in which the Company and ACC operate; risks related to governmental regulations, including those relating to taxes and other levies; risks related an early stage business and a business involving an agricultural product and a regulated consumer product; risks related to building brand awareness in a new industry and market; risks relating to restrictions on sales and marketing activities imposed by governments; risks inherent in the agricultural business; risks relating to energy costs; risks relating to product liability claims, regulatory action and litigation; risks relating to recall or return of products; and risks relating to insurance coverage; global economic climate; equipment and building failures; increase in operating costs; decrease in the price of cannabis; security threats; government regulations; loss of key employees and consultants; additional funding requirements; volatility in the securities of the Company; changes in laws; technology failures; failure to obtain permits and licenses; anticipated and unanticipated costs; competition; risks associated with the substantial obligations of being a public company; and failure of counterparties to perform their contractual obligations. This list is not exhaustive of the factors that may affect the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements.

Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither the Company nor any of the its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to the reader or any person resulting from the use of the information in this news release by the reader or its representatives or for omissions from the information in this news release.

Accordingly, readers should not place undue reliance on forward-looking statements. Financial amounts are in United States Dollars, unless otherwise specified.

Non-GAAP Discloser:

“Adjusted EBITDA” (earnings before interest, tax, depreciation and amortization, adjusted for one-time, non-recurring charges incurred in the relevant financial period) does not have any standardized meaning as prescribed by International Financial Reporting Standards (“IFRS“) as issued by the International Accounting Standards Board, and, therefore, is considered a non-GAAP measure and may not be comparable to similar measures presented by other issuers. The Company believes the non-GAAP measures of “adjusted EBITDA” and “EBITDA margin”, combined with IFRS measures, such as revenue, are useful measures to its shareholders as management relies on such measures to provide insight into future operations. Readers are cautioned, however, that “adjusted EBITDA’ and “EBITDA margin” should not be construed as an alternative to financial measures determined in accordance with GAAP or IFRS as an indicator of the Company’s financial performance.

Not an Offer or Solicitation:

This press release is not an offer of the Company’s securities for sale in the US. The securities may not be offered or sold in the US absent registration or an available exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “US Securities Act“) and applicable US state securities laws. The Company will not make any public offering of its securities in the US. The Company’s securities have not been and will not be registered under the US Securities Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

]]>Liht Cannabis Corp. Announces First Product Sales and Closing of First Tranche of Private Placementhttps://lihtcannabis.com/news/liht-cannabis-corp-announces-first-product-sales-and-closing-of-first-tranche-of-private-placement/
Mon, 13 May 2019 19:00:50 +0000https://lihtcannabis.com/?p=3149KELOWNA, BRITISH COLUMBIA – May 13, 2019 – Liht Cannabis Corp. (CSE: LIHT) (OTCQX:LIHTF) (“Liht” or the “Company“), a licensed cannabis cultivator and producer, is pleased to announce that it has commenced its first commercial sales of recreational cannabis in…

]]>KELOWNA,BRITISHCOLUMBIA – May 13, 2019 – Liht Cannabis Corp. (CSE: LIHT) (OTCQX:LIHTF) (“Liht” or the “Company“), a licensed cannabis cultivator and producer, is pleased to announce that it has commenced its first commercial sales of recreational cannabis in the state of Nevada. The Company has identified wholesale partnerships with two (2) retailers, totalling five (5) dispensary locations in the Reno & Laughlin region of Nevada, from which the retailers will purchase Liht’s entire supply of premium, triple certified organic flower – presently produced at a rate of 110 lbs per month from Liht’s 10,000 ft2 North Las Vegas facility. The partnerships will also leverage the marketing and advertising experience of ACC Industries Group, LLC, which has been instrumental in consummating the arrangement between the two parties.

Rahim Mohamed, CEO of Liht, commented, “This is a tremendous achievement for Liht and we look forward to continue supplying the Nevada market with our premium flower in advance of Liht’s concentrate product roll-out, expected to begin July 2019. Securing shelf space for our organic products reaffirms Liht’s commitment to redefine ‘premium cannabis’ within the North American market.”

The Company is further pleased to announce that its California retail location, “Green Leaf Wellness“, has received an award from Palm Springs Life Magazine for “Best of the Best: 2019” in the dispensary category for the Desert Hot Springs area. The retailer is located in the Coachella Valley, which is home to the famous Coachella Music Festival that attracts an estimated 4.5 million tourists each year. Dubbed “California’s Prestige Magazine”, Palm Springs Life and its readers have collectively praised Green Leaf Wellness for its wide array of products and educational programming for both new customers and seasoned connoisseurs.

Additionally, the Company is announcing the closing of the first tranche of a non-brokered private placement (the “Offering“) of secured Convertible Debentures (the “Debentures“) for gross proceeds of C$250,000. The Debentures mature on May 8, 2021 (the “Maturity Date“) and bear interest at a rate of 10% per annum, payable on the earlier of the Maturity Date or upon conversion of the Debenture.

The Debentures (including any accrued and unpaid interests) are convertible at the option of the holder into units of the Company (each, a “Unit“) at a conversion price of C$0.20 per Unit. Each Unit consists of one

(1) common share of the Company (a “Common Share“) and one (1) Common Share purchase warrant of the Company (a “Warrant“), with each Warrant entitling the holder thereof to purchase one (1) Common Share of the Company at an exercise price of C$0.35 per share for a period of eighteen (18) months.

The Company will use the net proceeds of the Offering to finalize the build-out of the first phase of Liht’s Nevada operations, including the purchase of lab equipment, a distribution vehicle, and for general and working capital purposes.

The Debentures and the underlying Common Shares and Warrants (and any Common Shares issuable upon conversion thereof), are subject to a statutory four (4) month and one (1) day hold period, until September 9, 2019.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT LIHT CANNABIS CORP.

Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and is seeking expansion opportunities worldwide.

Liht trades in Canada, ticker symbol LIHT on the CSE, and in the United States, ticker symbol LIHTF on the OTCQX. The Company also trades on other recognized platforms in Europe including Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

MARIJUANA INDUSTRY INVOLVEMENT:

Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.

Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state, however ,marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana

is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht’s ability to access private and public capital could be affected and or could not be available to support continuing operations.

Liht’s business is conducted in a manner consistent with state law and is in compliance with licensing requirements. Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.

FORWARD – LOOKING STATEMENTS:

Certain statements in this release are forward-looking statements, which includes, the expected outcomes of its business, the proceeding commenced against the Company, the counterclaim made by the Company, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward- looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from the Company’s expectations include, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.

]]>KELOWNA,BRITISHCOLUMBIA – May 6, 2019 – Liht Cannabis Corp. (CSE: LIHT) (OTCQX:LIHTF) (“Liht” or the “Company“), announces that it has filed a counterclaim in the British Columbia Supreme Court against Veritas Pharma Inc. (“Veritas“) alleging, among other things, that the Company and Veritas entered into a loan agreement (the “Agreement“) for repayment of the loan.

The Company will vigorously defend itself against the claim made by Veritas. As set out in the Response to Civil Claim, the Company believes the allegations are without merit and that the Agreement is in full force and effect. The Company is seeking an order for specific performance requiring Veritas to perform its obligations to the Agreement and otherwise abide by its terms, or alternatively, damages.

The Company alleges that the terms of the Agreement include, amongst others, a repayment of the $1,000,000 loan by transferring $100,000 to Veritas and by assigning its interest in the asset purchase agreement to acquire a marijuana production operation in Washington State.

ABOUT LIHT CANNABIS CORP.

Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and is seeking expansion opportunities worldwide.

STOCK EXCHANGES:

Liht trades in Canada, ticker symbol LIHT on the CSE, and in the United States, ticker symbol LIHTF on the OTCQX. The Company also trades on other recognized platforms in Europe including Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

MARIJUANA INDUSTRY INVOLVEMENT:

Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.

Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state, however ,marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht’s ability to access private and public capital could be affected and or could not be available to support continuing operations.

Liht’s business is conducted in a manner consistent with state law and is in compliance with licensing requirements. Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.

FORWARD – LOOKING STATEMENTS:

Certain statements in this release are forward-looking statements, which includes, the expected outcomes of its business, the proceeding commenced against the Company, the counterclaim made by the Company, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward- looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from the Company’s expectations include, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.

]]>KELOWNA, BRITISH COLUMBIA – April 22, 2019 – Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) (“Liht” or the “Company“), a Nevada licensed cannabis cultivator and producer is pleased to announce that on April 18, 2019, it has entered into a Share Exchange Agreement (the “Agreement“) with Buds For You Inc. (“Buds For You“), a late-stage cannabis cultivation, processing, and sales license applicant under the Cannabis Act, to acquire all of its issued and outstanding shares. The Company will attach to and replace the existing property under the license application with its property located in Chase, British Columbia (the “Chase Property“). Health Canada has confirmed approval of the transfer of the license application consisting of a cultivation, processing, and sales license (collectively, the “License“), to the Chase Property.

The Chase Property is 120 acres in size and will allow for a total of 486,000 ft2 footprint after all projected expansions are completed. As announced by the Company on February 6, 2019, the project will be funded and jointly developed with 1186626 B.C. Ltd. with an approximate cost to lock-up stage of C$81,600,000. 1186626 B.C. Ltd. holds the title to the Chase Property and has committed towards the joint venture. All required surveys of the Chase Property have been completed and ground-breaking for the initial 30,000 ft2 building is planned for May 2019. The Chase Property site offers many advantages for a large-scale cannabis cultivation operation, including access to labour from the surrounding area and future distribution due to its close proximity to Highway 1, the main route of the Trans-Canada Highway through British Columbia. Additionally, the site has multiple naturally-occurring springs, which is anticipated to provide an abundance of water for cultivation operations. Using the Company’s state-of-the-art, proprietary cultivation technology, combined with organic growing methods, the Chase Property intends to target a standard of quality for its products far above the current organic curriculum for cannabis consumer consumption.

Rahim Mohamed, CEO of Liht, commented, “The addition of a second Health Canada cultivation license application further validates Liht’s strategy to become a premier, large-scale cannabis producer for the North American cannabis market. In conjunction with our Las Vegas production facilities, which supply the Nevada market, and our Celista location in British Columbia, we anticipate that this third cultivation location will provide Liht with the capacity to supply organic cannabis to consumers across British Columbia and throughout Canada.”

Pursuant to the Share Exchange Agreement (the “Agreement”), the Company has issued 250,000 common shares of the Company’s at a deemed price of C$0.22 per common share to the sole shareholder of Buds For You (the “Shareholder“). Additionally, a non-refundable cash deposit of C$250,000 (the “Deposit“) has been advanced to the Shareholder. Upon closing of the Agreement, Liht will acquire all of the issued and outstanding shares of Buds For You in exchange for an additional C$750,000 cash payment (the “Purchase Price“) and a 5% perpetual gross royalty (the “Royalty“) on all sales and other income from cannabis derived by the Company or Buds For You from the Chase Property location where the License is assigned to, but excluding all refunds, credits and discounts made in good faith, including taxes or equivalent losses which are collected by the Company or Buds For You, and on behalf, of any governmental body. The closing of the Agreement is contingent on certain conditions being met by the Shareholder, including Health Canada granting the License under the Cannabis Act.

In connection with the Agreement, the Company has entered into a Finders’ Fee Agreement (the “Finders’ Fee“), whereby certain eligible finders will receive, upon closing of the Agreement, a payment as per TSX Venture Policy 5.1 Section 3.3. The Finders’ Fee will be calculated on the gross consideration payable under the Agreement of C$1,055,000, including the 250,000 common shares issued pursuant to the Agreement and the specified Deposit and Purchase Price but excluding the Royalty . Consideration payable in respect of the Finders’ Fee will consist of common shares in the capital of the Company at a deemed price equal to the closing price of the Company’s common shares on the Canadian Securities Exchange (“CSE“) on the date of execution of the Agreement.

All shares to be issued pursuant to the Agreement and Finder’s Fee will be subject to resale and transfer restrictions as prescribed by applicable securities laws and will not be registered under any securities legislation in the United States, including the United States Securities Act of 1933, as amended.

Nevada Update

Extraction Facility and Distribution License

The Company’s Nevada extraction room at this production facility is currently in its final construction phase and is intended to be operational within one (1) month. Once construction is completed and extraction operations begin, the Company intends to extract its reserve of high-quality, organic cannabis from its first Las Vegas harvest. The Company anticipates this will allow it to realize the highest possible prices and margin on its cultivation and extraction operations in Nevada.

As announced on April 11, 2019, the Company is required to purchase and gain inspection approval of a qualified delivery vehicle before the Nevada distribution license can be granted. To this end, the Company will order a Ford Transit delivery truck, compliant with California-emissions standards and complete with a refrigeration system running on rechargeable batteries. The delivery vehicle will have full tracking software installed through Trackloop, an end-to-end, vertically-integrated hardware/software company, for real-time monitoring, planning, and analytics of the Company’s supply chain. Once the Company takes possession of the vehicle, and the required inspections are complete, the last condition to receiving its Nevada distribution license will be satisfied.

Testing Milestone

The Company has received strong test results from third-party testing facilities for its first harvest, showing 25.98% THC and over 30.00% total cannabinoids. These results are from a single strain of the Company’s cannabis and further results are expected shortly. This organically grown strain’s strong test results further validate the Company’s organic growing methodology and demonstrate its ability to produce premium cannabis products for the Nevada market.

Restricted Stock Unit (“RSU”) and Stock Option Grant

Pursuant to the Company’s Restricted Share Unit (“RSU“) Plan, it has awarded 12,900,000 RSUs to certain directors and officers of the Company. The RSUs will vest over a period of one (1) year and entitle the holders thereof to receive one common share for each RSU vested.

Additionally, pursuant to the Company’s Stock Option Plan, it has granted options to acquire 750,000 common shares to an officer of the Company, at an exercise price of C$0.22 per share for a period of five (5) years. The Options vest over a period of one (1) year.

Management Transition

The Company further announces that Ms. Linda Sampson and Ms. Rene Wolfe will transition from their current roles with the Company to provide new opportunities for strategic hires that bring the necessary skillsets for the anticipated expansion the Company envisions. Through their dedication and tireless efforts, the contributions of Ms. Sampson and Ms. Wolfe have helped drive Company’s growth and scale. Ms. Sampson and Ms. Wolfe have agreed to continue to support the Company in all areas that may be required, including with respect to licensing and administration, during this transitional period. This transition will remain in place as long as the Company requires by mutual agreement between all parties. Liht would like to take this opportunity to thank Ms. Sampson and Ms. Wolfe for their valued and dedicated service and wishes each every success in their future endeavours.

ABOUT LIHT CANNABIS CORP.

Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and are seeking expansion opportunities worldwide.

Liht trades in Canada, ticker symbol LIHT on the CSE, and in the United States, ticker symbol LIHTF on the OTCQX. The Company also trades on other recognized platforms in Europe including Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

MARIJUANA INDUSTRY INVOLVEMENT:

Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.

Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht’s ability to access private and public capital could be affected and or could not be available to support continuing operations.

Liht’s business is conducted in a manner consistent with state law and is in compliance with licensing requirements. Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.

FORWARD – LOOKING STATEMENTS:

Certain statements in this release are forward-looking statements, which includes, the expected outcomes of its business, obtaining final approval of license from the Nevada Department of Taxation, expansion of its Las Vegas facility and increased production capacity and sales, divestiture of California and Washington assets, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statements are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from the Company’s expectations include, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.

Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) (“Liht”) or the “Company”) announced today that the Company’s current Chief Financial Officer, Hanspaul Pannu, has been appointed as President and Nilda Rivera has been appointed Chief Financial Officer. The effective date of change will be April 1, 2019.

As the Company continues to grow and execute on its business plan, the addition of Nilda Rivera, former VP of Finance and Corporate Secretary of Aurora Cannabis Inc., will be instrumental in creating sustainable best in class business practices and ensuring good stewardship of our business as we transition deeper into our operational phase. Ms. Rivera has been with Aurora Cannabis Inc. from their reverse takeover transaction to becoming a publicly traded entity to having over 1,400 employees and making it one of the largest cannabis companies in the world. Ms. Rivera has over 20 years of experience in accounting, financial reporting and corporate governance with public companies in the resources, technology and cannabis sectors. Prior to joining Aurora, she had 5 years of CFO experience with TSXV companies and 15 years of Corporate Secretary experience with TSX and TSXV companies.

There are no changes to our Board of Directors who continue to provide governance and corporate and operational oversight to the Company. Marcel LeBlanc, chairman of the Board, has significant experience and a proven track record of achievement and demonstrated successes, driving multi-million dollar revenue growth by designing and executing operational procedures and methodologies with a focus on cost control, asset utilization and value creation.

“The Company has made the recent strategic turning point by transitioning into a producing cultivator and overall growth phase. Nilda’s wealth of financial and industry experience is paramount to supporting our growth and the Company’s commitment to generate long term, sustainable shareholder value” states Mr. Pannu. “Along with the implementation of governance, and corporate and operational oversight from Marcel, Nilda and I are excited to work together to implement best in class business practices and achieve our operational and financial objectives over the next 6 months.”

“I am delighted to join the Liht management team at this time as the Company continues to pursue its growth objectives,” said Nilda Rivera. “I am excited for the opportunity to bring my background, skills and commitment to ethical standards to work to help the Company through its next stage of growth and increase shareholder value.”

Ms. Rivera has been granted stock options to purchase 250,000 common shares of the Company exercisable at $0.24 per share and 100,000 restricted share units of the Company. The options and RSUs vest over a period of one year.

The Company will provide its operational objectives over the next 6 months in a news release to follow.

Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and are seeking expansion opportunities worldwide.

STOCK EXCHANGES:
Liht trades in Canada, ticker symbol LIHT on the CSE, and in the United States, ticker symbol LIHTF on the OTCQX. The Company also trades on other recognized platforms in Europe including Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

MARIJUANA INDUSTRY INVOLVEMENT:
Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.

Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht’s ability to access private and public capital could be affected and or could not be available to support continuing operations.

Liht’s business is conducted in a manner consistent with state law and is in compliance with licensing requirements.

Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.

FORWARD – LOOKING STATEMENTS:
Certain statements in this release are forward-looking statements, which includes, the expected outcomes of its business, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from the Company’s expectations include, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.

Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) (“Liht”) or the “Company”) announced today that the Company has secured a one-year 15% $1.9M USD bridge financing loan maturing April 1, 2020. The loan proceeds were used to purchase 13.8 acres of land with a 28,000 ft2 facility and additional buildings located in Lynden, Washington for $4.2M USD.
The terms of the financing are monthly blended principal and interest payments of $52,878 USD due on the 1st of the month starting May 1st, 2019. If the principal outstanding is not paid in full on April 1, 2020, the loan can be extended for 6 months for a 2% extension fee on the face value of principal extended in closing of the transaction, the Company paid lending and broker fees of $78,000 USD.

As previously disclosed on January 2, 2019, Liht is actively negotiating the definitive agreements in an arm’s length transaction with Canabiz Systems Inc (“Canabiz”). Canabiz has the rights to a biospherical system providing cannabis cultivators with a low-cost operating model while maximizing cultivation canopy through vertical-stacking. The ownership of title on the property is integral in finalizing the definitive agreements.

Canabiz Systems Inc. will pay for the equipment and tenant improvements required for Alphapheno, LLC (“Tenant”), a Tier 3 license holder with unlimited processing ability. This means the Tenant is able to buy cannabis supply from the Washington market and process it into a variety of products that include but are not limited to extracts/oils, edibles and pre-rolled cannabis products. Upon signing of the definitive agreements, it is estimated the 28,000 ft2 facility will be scheduled for estimated completion in approximately 3-6 months subject to regulatory approvals.

Alphapheno, LLC, Kurt Keating states, “We have an unparalleled opportunity to be profitable in a mature cannabis marketplace while leveraging new technology. A turn-key facility utilizing a vertical growing methodology and an advanced aeroponic control system will allow us to maximize our production floorspace and implement automation not yet seen in our industry. Alphapheno will be positioned for sustainable revenue with this opportunity.”

The Company intends to secure a long-term financing solution at a lower interest rate to improve net cash flows generated from the property.

Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and are seeking expansion opportunities worldwide.

STOCK EXCHANGES:
Liht trades in Canada, ticker symbol LIHT on the CSE, in the United States, ticker symbol LIHTF on the OTCQX.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

MARIJUANA INDUSTRY INVOLVEMENT:
Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.

Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht’s ability to access private and public capital could be affected and or could not be available to support continuing operations.

Liht’s business is conducted in a manner consistent with state law and is in compliance with licensing requirements.

Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.

FORWARD – LOOKING STATEMENTS:
Certain statements in this release are forward-looking statements, which includes, the expected outcomes of its business, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from the Company’s expectations include, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.

]]>Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) or the “Company”) announces that Ms. Linda Sampson wishes to “temporarily withdraw” from the Board of Directors and as Officer of the Company, effective immediately.

Ms. Linda Sampson, co-founder of the Company since 2014, has extensive and valuable knowledge of Liht’s business and the cannabis industry as a whole. Her dedication to affect positive change and progress has been instrumental during a time of evolving business models and rapid change in the industry.

Ms. Sampson will focus her skills on critical developments, operations, licensing and continue to guide and support the Company to deliver integrity, service and value to Liht and its shareholders.

Ms. Sampson has nominated an accomplished operations-focused leader in her place – Marcel LeBlanc, as Independent Director and Chairman of the Board of Liht Cannabis Corp.

Mr. Marcel LeBlanc is VP of Operations and co-founder of NorCan Electric Inc. (“NorCan”) since 2005. Capturing a significant presence in the unparalleled oil and gas industry of Fort McMurray, NorCan has become one of the leading electrical and instrumentation providers, employing approximately 700 employees.

Mr. LeBlanc has a record of achievement and demonstrated successes, driving multi-million dollar revenue growth by designing and executing operational procedures and methodologies with a focus towards cost control, asset utilization and value creation.

“Mr. LeBlanc will significantly enhance the board by focusing on efficiencies, growth, sustainability, risk management and compliance. He has provided visionary leadership in highly competitive markets. These attributes will be a major benefit to the growth of the Company as we move forward.” Linda Sampson

Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and are seeking expansion opportunities worldwide.

STOCK EXCHANGES:Liht trades in Canada, ticker symbol LIHT on the CSE, in the United States, ticker symbol LIHTF on the OTCQX.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

MARIJUANA INDUSTRY INVOLVEMENT:
Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.

Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht’s ability to access private and public capital could be affected and or could not be available to support continuing operations.

Liht’s business is conducted in a manner consistent with state law and is in compliance with licensing requirements.

Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.

FORWARD – LOOKING STATEMENTS:Certain statements in this release are forward-looking statements, which includes, the expected outcomes of its business, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from the Company’s expectations include, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.

]]>Liht Cannabis Corp. (CSE:LIHT, OTCQX:LIHTF) (“Liht Cannabis” or the “Company“), is pleased to announce that effective March 5, 2019, it has executed a letter of intent (the “LOI“) to partner with Colorado-based, premier “House of Brands” Cannabis One Holdings Inc. (CSE:CBIS) (“Cannabis One” or “CBIS“) to bring Cannabis One’s popular retail concept The JointTM to California for the first time. The Company, which owns California license holder, “420 Delivery Express Inc.” (the “Licensed Entity“), operator of “Green Leaf Wellness”, a dispensary located in the Coachella Valley of California (the “Licensed Premises“), expects the rebranding of “Green Leaf Wellness”, under the banner of The JointTM, to occur shortly following the closing of the transaction (the “Closing“).

Rahim Mohamed, CEO of the Company, remarked, “Liht Cannabis welcomes one of Colorado’s most experienced cannabis industry teams to the California retail market and is thrilled to partner with Cannabis One for its first The JointTM corporate location in the state. We believe that Cannabis One’s track record of success and excellence, combined with its management team and board of directors’ extensive retail experience will be mutually-beneficial for LIHT and CBIS — Driving shareholder value for both enterprises.”

Liht Cannabis is excited to provide the launchpad for Cannabis One’s proposed The JointTM expansion into California, with a Cannabis One management-targeted four (4) additional The JointTM locations in the state and a further twenty (20) locations planned by Cannabis One management to arrive in state-legal jurisdictions across the U.S. in 2019, to complement this first transaction.

Under the terms of the LOI, consideration for the transaction will consist of the rebranding of the Licensed Premises, valued at US$250,000, under Cannabis One’s The JointTM banner, which is mutually-agreed to commence in the weeks following Closing; and US$350,000 in Class A subordinated voting shares of Cannabis One (“CBIS Shares“), such that the valuation for such CBIS Shares be equal to the greater of: (1) the ten (10) day volume weighted average price (“VWAP“) for the period immediately trailing the execution of the definitive agreement (the “Definitive Agreement“), with a 10% discount applied to the VWAP; and (2) a 15% discount applied to the closing price of CBIS Shares immediately prior to this press release. CBIS Shares issued as consideration to Liht Cannabis shall be subject to a twelve (12) month contractual trading restriction following the date of issuance. Additionally, Cannabis One retains a right-of-first-refusal to purchase the remaining 49.0% of the Licensed Entity and related assets at fair market value in exchange for CBIS Share and/or cash consideration for a period of five (5) years immediately following Closing. The Closing remains subject to customary due diligence for a transaction of this nature and execution of the Definitive Agreement to acquire an interest in the Licensed Entity.

Following the execution of the LOI, Cannabis One Holdings Inc. CEO, Jeffery Mascio commented, “The Cannabis One team is pleased by this exciting opportunity to enter the California market and we believe this acquisition positions our company exceptionally well to promote the expansion of our portfolio of brands within one of the world’s most vibrant markets.” Mr. Mascio continued, “While we are naturally excited to introduce California to our The JointTM retail experience — named among LeaflyTM‘s top Colorado picks for several years running — and to roll-out our INDVRTM line of vaporizer products across the state, we also view this acquisition as a significant milestone for Cannabis One that now allows us to advance our partnerships within the California cannabis manufacturing and distribution space for exciting new strategic relationships.”

The Company anticipates this mutually-beneficial partnership will allow Liht Cannabis to benefit from Cannabis One’s combined 30+ years of management experience gleaned from Colorado’s maturing cannabis industry, and from exposure to Cannabis One’s expanding suite of portfolio brands — All of which are expected to provide Liht Cannabis with the opportunity to increase its focus on core assets located in Washington, Nevada, and British Columbia, Canada, in addition to its PureCloud 9 product line:

Located just south of the Canadian border in Lynden, Washington, Liht Cannabis owns a 13.8-acre cannabis-zoned property. The Company entered into a LOI on December 18, 2018, which would provide its state-certified tenant, AlphaPheno, with a vertically-equipped facility, maximizing the capacity of its 28,000 ft2 building in 2019;

In North Las Vegas, Nevada, Liht Cannabis is currently operating 10,000 ft2 of combined cultivation and processing space, with the potential for a total footprint of 300,000 ft2 pending future build-out, located in the Apex Business Park. In conjunction, the Company has successfully secured a Nevada production license, allowing for the extraction and subsequent production of edibles, topicals, and associated products, such as infused pre-rolls and vape cartridges — Confirming Liht Cannabis as the first operational hydrocarbon extraction facility in North Las Vegas;

In Canada, Liht Cannabis has selected a 40-acre site, located near Salmon Arm, British Columbia, for the build-out of its proposed 100,000 ft2 cultivation facility. Liht Cannabis expects the market for premium cannabis to accelerate among consumers and intends to capture this growing category with its own, premium, organically-certified line of cannabis products;

Furthermore, in Canada, the Company has entered into a joint venture agreement for a 486,000 ft2 organic cultivation facility on a 120-acre parcel of land located in Chase, British Columbia. The project will be financed by 1186626 BC Ltd. with an approximate cost to lock up stage of C$81,600,000.

Rounding out its portfolio, Liht Cannabis is proud to offer a healthy alternative to mainstream cosmetic products. The Company’s PureCloud 9 hemp-infused products are made up of botanical extracts and incorporates organic, cold-pressed hemp oil. Liht Cannabis’ new and re-formulated, whole-body hemp health line, PureCloud 9, has now been officially launched and is available online.

ABOUT LIHT CANNABIS CORP.Liht Cannabis Corp. (CSE:LIHT, OTCQX:LIHTF), established in 2014, is a publicly-traded company investing in the medical and recreational cannabis space. The Company has rapidly expanded to include cultivation, production, and dispensary operations in key North American states, such as Washington, Nevada, and California state, and British Columbia, Canada, and is seeking expansion opportunities worldwide.

STOCK EXCHANGES:Liht trades in Canada, under the ticker symbol LIHT on the CSE, and in the United States, under the ticker symbol LIHTF on the OTCQX.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

MARIJUANA INDUSTRY INVOLVEMENT:Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.

Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht’s ability to access private and public capital could be affected and or could not be available to support continuing operations.

Liht’s business is conducted in a manner consistent with state law and is in compliance with licensing requirements.

Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.

FORWARD – LOOKING STATEMENTS:Certain statements in this release are forward-looking statements, which includes, the expected outcomes of its business, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from the Company’s expectations include, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.

]]>Liht Cannabis Corp. Announces Letter of Intent for ‘Track-and-Trace’ Software and Hardware for its Nevada Operationshttps://lihtcannabis.com/news/liht-announces-letter-of-intent-for-track-and-trace-software/
Tue, 12 Mar 2019 11:56:47 +0000https://lihtcannabis.com/?p=3045Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) or the “Company”) is pleased to announce that it has entered into an arm’s length letter of intent dated March 11, 2019 with Trackloop Analytics Corp. (“Trackloop”) for the purpose of testing and…

]]>Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) or the “Company”) is pleased to announce that it has entered into an arm’s length letter of intent dated March 11, 2019 with Trackloop Analytics Corp. (“Trackloop”) for the purpose of testing and implementing Trackloop’s technology in our Nevada cannabis operations. Trackloop’s real-time tracking software will be used by the Company, to monitor the movement of all inventory throughout the supply chain, providing visual data mapping of temperature monitoring, real-time records of pick up/drop off, location tracking and full integration with existing inventory management and other Enterprise Resource Planning (ERP) solutions.

An integral component to the legal cannabis supply chain is the transporting of all cannabis products between cultivator, producers and retailers. We are interested in onboarding this all in one, real-time tracking and logistics solution because it addresses a key pain point that exists in cannabis logistics, which is tracking and monitoring the movement of product through the supply chain.

Further details regarding the proposed transaction and its terms and conditions will be negotiated and provided in a comprehensive press release if and when the parties enter into a definitive agreement.

Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and are seeking expansion opportunities worldwide.

STOCK EXCHANGES:Liht trades in Canada, ticker symbol LIHT on the CSE, in the United States, ticker symbol LIHTF on the OTCQX.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

MARIJUANA INDUSTRY INVOLVEMENT:
Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.

Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht’s ability to access private and public capital could be affected and or could not be available to support continuing operations.

Liht’s business is conducted in a manner consistent with state law and is in compliance with licensing requirements.

Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.

FORWARD – LOOKING STATEMENTS:Certain statements in this release are forward-looking statements, which includes, entering into a definitive agreement with Trackloop and the benefits of the technology, the expected outcomes of its business, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from the Company’s expectations include, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.

]]>Liht Cannabis Corp. Responds To Veritas News Releasehttps://lihtcannabis.com/news/liht-cannabis-corp-responds-to-veritas-news-release/
Mon, 11 Mar 2019 11:56:16 +0000https://lihtcannabis.com/?p=3042Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) or the “Company”) today responds to the claim made against the Company by Veritas Pharma Inc. (“Veritas”). On March 4, 2019, Veritas Pharma Inc., filed a Notice of Claim against the Company for…

]]>Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) or the “Company”) today responds to the claim made against the Company by Veritas Pharma Inc. (“Veritas”).

On March 4, 2019, Veritas Pharma Inc., filed a Notice of Claim against the Company for recovery of a loan of $1 million. October 13th, 2018, the terms of repayment of the loan were settled. Veritas by filing the Notice of Claim has reneged on the repayment terms.

HistoryVeritas had claimed that they were a discovery and development company, advancing the science behind medical marijuana. They brought together a highly accredited team of pharmacologists, anesthetists and chemists with substantial success in both academia and industry, specifically in drug development. They had a laboratory at the University of British Columbia (UBC) where they were applying a comprehensive scientific approach to medical marijuana claims.

Veritas’s mission has been to develop the most effective proprietary cannabis strains for specific disease conditions and to provide doctors and patients with conclusive science evidence to recommend and use medical marijuana with confidence.

We believed in the Veritas business model and the beneficial synergy between our companies. As a result, in 2017, we provided capital to Veritas to execute their business plan by investing $1,350,000 CDN through two private placements. The Company acquired shares and share purchase warrants of Veritas for support and investment purposes and still retains significant securities of Veritas.

The Company will be filing a response to the Notice of Claim filed by Veritas.

“We had anticipated a mutual settlement agreement between us. We are extremely disappointed with the deterioration of the relationship between our companies. We share mutual values, ethics and research goals in this shared cannabis space. It would have been our preference to reach an agreement and to move forward amicably.” Rahim Mohamed, CEO

Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and are seeking expansion opportunities worldwide.

STOCK EXCHANGES:Liht trades in Canada, ticker symbol LIHT on the CSE, in the United States, ticker symbol LIHTF on the OTCQX.

Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

MARIJUANA INDUSTRY INVOLVEMENT:
Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.

Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht’s ability to access private and public capital could be affected and or could not be available to support continuing operations.

Liht’s business is conducted in a manner consistent with state law and is in compliance with licensing requirements.

Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.

FORWARD – LOOKING STATEMENTS:
Certain statements in this release are forward-looking statements, which includes, the expected outcomes of its business, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from the Company’s expectations include, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.